predictably

[solarbird]

ouch
      Price  Change Percent
LEH    0.21   -3.44  -94.30

Comments

[elfs.livejournal.com]

No surprise there. Gotta love Fitch's (http://fitchratings.com/) take:

Long-term IDR to 'D' from 'A+';
Short-term IDR to 'D' from 'F1';
Senior debt to 'CCC' from 'A+';
Subordinated debt to 'C' from 'A';
Preferred stock to 'C' from 'A'.

"We had no idea how bad it was!" Assholes. Just Friday it was all 'A+'. Why do people think the rating agencies know anything? Doesn't Joe Investor know that the ratings people get their money from the funds they're rating?

[solarbird]

Yeah, it's all crazy. The ratings agencies discredited themselves long ago.

[hubbit.livejournal.com]

Does it strike anyone else as somewhat galling that the financial/credit industry has a major player declaring bankruptcy, when that same industry successfully lobbied to restrict the ability for individuals to do the same? (A tactic which, as we see, backfired resoundingly...)

[partywhipple.livejournal.com]

Buy buy buy!! wait, no, not that...

[llachglin.livejournal.com]

Yes.